The shares of the manufacturer and suppliers of steel line pipes gained up to 5 percent after the company received a new work order worth Rs 555 crore from international and domestic clients.
With a market capitalization of Rs 2,344.02 crore, the shares of Man Industries (India) Ltd were trading at Rs 390.00 per share, increasing around 2.44 percent as compared to the previous closing price of Rs 380.70 apiece.
As per the exchange filing, Man Industries (India) Ltd received a new work order worth Rs 555 crore from international and domestic clients for the supply of various types of pipes. The order should be executed within 6 months.
Furthermore, this transaction indicates a strong business climate and demonstrates clients’ confidence in the Company’s technology and operational skills.
Looking at the company’s financials, Man Industries (India) Ltd’s sales increased by 26% from Rs 658 crore in Q3FY23 to Rs 833 crore in Q3FY24. During the same period, net profit decreased by 16% from Rs 37 crore to Rs 31 crore.
As of December 2023, The total unexecuted order book as of today stands at approximately Rs.2000 Crores to be executed in the next 6 months.
The company has three state-of-the-art manufacturing facilities with 2 facilities located in Anjar, Gujarat having 2 LSAW line Pipe units & 2 HSAW Line Pipe units, 1 ERW unit, and also for various types of Anti-Corrosion Coating Systems, and 1 facility in Pithampur, Madhya Pradesh, having a total installed capacity of over 1.15 Mn+ MTPA.
It has delivered a multi-bagger return of 148.83 percent in the last six months and 355.95 percent in a year. An investment of Rs 1 lakh in the company yields a return of Rs 4.55 lakh per year.
Man Industries Ltd. is a leading manufacturer and exporter of LSAW and HSAW pipes in India, having a total installed capacity of 1 million tons. With over three decades of experience, the firm is a leading maker of big-diameter pipes in the industry.
Written by:- Abhishek Singh
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